All five 3,580kW vessels were built at Cheoy Lee Shipyards, Hong Kong. ACP Executive Vice President of Operations Manuel BenÃtez said that an additional 13 tugs, also purchased from Cheoy Lee Shipyards, are scheduled to begin arriving in September 2010. These new units will come with an award-winning design, superior components, stronger engines, better clutches and advanced propulsion systems.
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Monday, January 5, 2009
New tugs to service Panama Canal
The Panama Canal Authority (ACP) announced on April 28 that five new tugs had been added the its fleet.
Institutional Investors see oil prices at $60 for 2009
Oil markets traditionally love the unrest. The conflict in
As a result, last Friday crude oil for February delivery rose $1.74, or 3.9 percent, to $46.34. After that extraordinary session, last week prices climbed 23 percent, the most since August 1986. This a very good start for oil prices after a very difficult year, during which oil fell 54 percent, the first annual drop since 2001, therefore recording the biggest loss since trading started.
MEO set for rig handover
MEO
Handover of the rig has been repeatedly delayed from late October due to technical problems on the Santos-operated North Ichthys-1 well in the Browse basin, and most recently by the passage of Tropical Cyclone Billy. The company said it now expected the handover to take place on Thursday. MEO plans to use the rig to drill its Zeus-1 exploration well on the WA-361-P permit in the Bonaparte Gulf
2009: A puzzle for most analysts of the dry bulk market
Last year proved to be a year of broken records, both positive and negative.
With the freight market becoming increasingly volatile and highly unpredictable, one thing’s certain: “prophets” shouldn’t be taken too seriously. Supposedly, in a couple of months from today the market would begin its correction, thanks to a flurry of modern tonnage being delivered by shipyards. Instead, yards are fighting with customers reluctant to take delivery of their vessels, or even looking a way to get out of their contract, even if it was signed 12-18 months ago.
New HD850 Precision Searchlight Sonar
The new HD850 series from Wesmar was installed aboard the F/V American Triumph.
“The Wesmar HD850 is working well, marking fish down 320 fathoms on 1200 meter range,” said Captain Eric of the American Triumph. Captain Sandy also adds, “The Wesmar HD850 is marking extremely well. Active stabilization consistently keeps the fish on the screen.”
Restructure for Evergreen Marine US agent
This follows announcements of capacity reductions on several trade lanes by Evergreen Line in response to the downturn in ocean shipping. "The worldwide economic turmoil has created a situation we have not seen in our lifetimes," the company is reported as having said in a statement to all North America employees. The move is aimed at reducing costs and putting the company on a more sustainable structure moving forward.